It is just the beginning

Our
new dispensation under the Barrow government and administration is just about
one-year-old, but it has been a chequered period for the powers that be and
indeed the whole nation.

All
are aware of the manner of governance transitional period the nation underwent,
which is still held responsible for the staggering managerial process the
current government is taking the country through.

It
must, however, be said that many things have changed, probably for the better,
such as freedom of expression, putting in place some stop gaps in the loopholes
of the national economy and amending some diplomatic malaise left behind by the
previous regime.

Some
of the changes are outlined in the New Year Message of the president as thus:
“The GDP growth for 2018 is projected at 3.8 percent compared to a growth of
2.2 percent in 2016. The agriculture, industry and service sectors are all
expected to register positive growth compared to the year ending [2017].

“Inflation
has reversed its rising trend declining from 8.8 percent in January to 7.4
percent in October 2017 reflecting the gradual decline in food prices and
stabilization of the Dalasi.

“Treasury
bill rates have declined between September 2016 and September 2017. This has
reduced the cost of Government’s borrowing by close to 50 percent and this
trend is set to continue in the coming year.

“The
Dalasi has remained stable since April 2017; with gross international reserves
increasing from less than one month of import cover at end-2016 to well over 4
months by the end of year under review.

“We
have already set the ball rolling for re-joining the Commonwealth and other
international bodies such as the International Criminal Court and we have also
reaffirmed our membership in the international centre for settlement of
investment disputes to encourage and restore Investor confidence.

“We
have since restored free speech and freedom of the press. Politics of fear and
intimidation have no place in today’s Gambia.”

All
these are positive trends in the development trajectory of the nation.

However,
as a government that has taken up the challenge of steering the affairs of this
country, it is expected that the wit, foresight, tact, wisdom and ability is
there to carry on the development process that will take this country to
another level.

After
a year of wrestling with the economic, political, diplomatic and social
challenges left behind by the Jammeh regime, our new government authority and
nation must be able to forge ahead and make good progress, even in these trying
times. So, for us, this period and year is regarded as just the beginning of
our national development, and whether it is going to take an upward or downward
trajectory is a matter of wait-and-see.

Meanwhile,
there are some pills to swallow in what our president also said in his New
Message to the nation that, “it is clear that we as a nation did not begin this
task [of nation building] with the best of the conditions”. Rather, “we started from a position
undermined by decades of mismanagement and undemocratic consolidation of power
that weaken our institutions. Our coffers not only emptied, but we are loaded
with huge debt. The country has debts of more than 1 billion US dollars which
is a staggering 120% of debt to GDP. This is equivalent to each household owing
about 4,500 US dollars. In addition, state assets have been neglected.
Electricity is a case in point.”

Considering
these huge challenges, it is clear that the Barrow government has a lot of hot
potatoes on their plate, which makes us believe that the year 2018 is just the
beginning of meeting head-on the battles of transforming Jammeh’s economic
ramifications from grass to grace.

The
US$1 billion debt - which is broken down to be US$45,000 debt owed by every
household in the country - and the perennial problem of electricity and power
outages are just some of the burning issues bedevilling the growth of the national economy, especially as they continue
to affect investment growth in the country.

It
is but important that the president has pinpointed some strategic sectors to
prioritise and transform in the course of his tenure, which include energy and
infrastructure, agriculture, health, education and youth empowerment, and
tourism.

Well,
as he rolls out his development plan, in the new beginning, we believe he is
also facing the test, not of manhood, but of state management. Therefore we are
also monitoring with keen interest his development drive to see whether his
government will live up to expectations.

“The
biggest determinant in our lives is culture, where we are born, what the
environment looks like. But the second biggest determinant is probably
governance, good governance or a certain kind of governance makes a huge
difference in our lives.”